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Complete Guide to Purchasing the Best Car Insurance


A contract between a car owner and an insurance provider known as “car insurance” or “four-wheeler insurance” protects your vehicle in the event of financial losses in conditions like accidents and natural disasters.

This agreement is typically seen as a piece of paper to be stored in the automobile dashboard and only removed if a traffic officer requests your documents. But there’s more! This document financially protects your four-wheeler in the event of damage or loss from an accident. No matter how cautious you are, there is a risk that you may have a vehicle accident and incur significant repair costs.

There are several types of four-wheeler insurance, such as third-party auto insurance, which guards against financial repercussions if the insured automobile unintentionally damages a third party’s vehicle or property or injures a third party or person. This liability-only or third-party auto insurance coverage does not cover harm done to the insured car.

According to the Motor Vehicle Act, you must have current third-party insurance coverage if you wish to drive your automobile in India.

Comprehensive auto insurance covers not only third-party culpability but also includes the monetary harm to the vehicle that may result from mishaps, theft, fire, and natural disasters like lightning, storms, floods, and cyclones. And not just that! You may also get a personal accident insurance policy, which will pay for any accidents-related injuries or, God forbid, serious bodily harm!

Depending on your needs, you may select a third-party, comprehensive, or even stand-alone injury coverage when you purchase auto insurance online. Some companies provide a selection of third-party and extensive auto insurance packages online to help you assess the severity of security and coverage your automobile requires.

With the help of 13 add-ons, it may further enhance auto insurance coverage. Enter your car’s information and check quotes to locate the four-wheeler-appropriate auto insurance plan!

Why Is Vehicle Insurance Necessary?

Motor Vehicle Insurance is necessary to protect you and your vehicle during various circumstances and potential outcomes that might result in monetary losses; you must have automobile insurance or four-wheeler coverage. It would be best if you got comprehensive or third-party four-wheeler insurance for the following reasons:

  1. The Motor Vehicles Act mandates that all drivers have third-party auto insurance. Consequently, third-party insurance is a minimum need for every vehicle operating on Indian highways. Proper coverage prevents you from getting into legal problems and facing expensive driving fines.
  2. You get a third-party liability when the insured car accidentally damages a third party’s vehicle or property or injures a third-party person. These third-party obligations are covered by third-party auto insurance or even a comprehensive auto insurance policy, which shields the owner of the insured vehicle from monetary losses.
  1. According to rules established by the Insurance Development and Regulatory Authority of India, a personal accident cover under a car insurance policy is available up to Rs. 15 lakhs if the account holder or the operator of the car sustains physical harm, becomes disabled, or passes away.

Considerations When Selecting Car Insurance

Although purchasing auto insurance is a straightforward procedure, it does take some time and extensive research. Many companies provide automobile insurance packages tailored to individual demands and budgets since it recognises the significance of appropriate four-wheeler insurance coverage. While purchasing auto insurance, you should take into account the following:

Choose Your Insurance Type

Businesses provide several forms of auto insurance, including Comprehensive Car Insurance, Stand Alone Own Damage and Third Party Car Insurance. This variety of options allows you to pick the kind of auto insurance that best satisfies your and your vehicle’s demands.

Examine policy coverage

Your needs and financial constraints will significantly impact your auto insurance policy coverage. In addition, the brand and model of your automobile, where you reside, and other criteria will influence the insurance coverage. Use the auto insurance calculator to estimate and compare the range of different plans before choosing an appropriate insurance plan.

The accessibility of add-ons

Thirteen different add-ons, including Key Replacement, Return to Invoice, Engine Secure, and others, are provided by several large firms to address a variety of scenarios that fall beyond the purview of your auto insurance policy. Your four-wheeler may receive all-around protection from your auto insurance coverage if you choose the necessary add-ons.

Verify the insured declared value

The car’s current market worth is its IDV or Insured Declared Value. The IDV, which represents the amount your automobile gets insurance for, is crucial when figuring out your auto insurance. The owner receives the Insured Declared Value upon settlement of the claim in the event of “total loss”—complete damage to or theft of the vehicle.

Cashless Garages Network

If your vehicle sustains minor or significant damage, you can visit one of the garages in the insurance company’s network to get the damage fixed. By doing this, you may take advantage of cashless claims, where the insurance will pay the garage’s repair costs immediately, saving you from spending a fortune on repairs.

Important Tip

In the marketplace, there is a lot of false information. Therefore ensure that everything should be in the form of a document and double-check it against a reputable website. Driving safety is a must. Never operate a vehicle when drunk.

Updated: 5 April, 2023 — 2:37 AM

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